Unit Responsibilities

Understand the purpose of the restricted gift per the donor's intention. Refer to the donor documentation or reference the KFS account search Account Income or Account Expense Guideline text.

Ensure that the expenditures posted to RGGIFT accounts meet the purpose of the gift.

Spend restricted gift funds before unrestricted funds. Generally, restricted funds should be spent before unrestricted funds for the same purpse. The exception to this is if you have a contracts and grants for the same purpose, then spend the contacts and grants funding first.

If unrestricted dollars were spent for the same purpose, prepare a Distribution of Income and Expense (DI) e-doc to move expenses from the unrestricted (U) to the temporarily restricted (T) account.

Review at least annually, why restricted gift accounts are not being spent. There should be a budget plan to spend restricted funds within a reasonable time frame. Generally, a reasonable time frame should be within three years. Remember, donors have given gifts to the university with the intention that the department will spend these funds for their given purpose.

Ensure that restricted gifts are not in deficit. Gifts and endowment income should be received or earned before expenditures are made. Remember, a gift letter of intent or pledge does not authorize the spending of restricted funds until the gift is received.

If an RGGGIFT account is in deficit, prepare a DI e-doc that moves the restricted expenses to an unrestricted account or to another restricted gift account if it has the same purpose.